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Criminal Prosecution Serious Fraud Office (SFO)

ArentFox Schiff

The End of LIBOR: Hotel California Edition [Part V]

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In a recent alert, we highlighted the United Kingdom (UK) benchmark manipulation cases of Tom Hayes and Carlo Palombo from 2015 and 2019, respectively. Hayes was the first banker to be jailed in the LIBOR scandal....more

Jenner & Block

Client Alert: UK Supreme Court Decision in R v Hayes/Palombo

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Last week the United Kingdom’s Serious Fraud Office (SFO) announced that, as a result of the UK Supreme Court's decision in R v Hayes/Palombo, a number of convictions arising from allegations of manipulation of well-known key...more

Mayer Brown

Eye on Economic Crime: HMRC Brings Forward First Corporate Prosecution Under Failure to Prevent Tax Evasion Offence

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On 11 August 2025, HM Revenue & Customs ("HMRC") initiated its first corporate prosecution under the failure to prevent the facilitation of tax evasion offence, which was introduced by the Criminal Finances Act 2017.  Bennett...more

K&L Gates LLP

UK CPS and SFO Issue Updated Corporate Prosecution Guidance: What Corporates Need to Know

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The Crown Prosecution Service (CPS) and the Serious Fraud Office (SFO) have jointly updated their Corporate Prosecutions Guidance (the Guidance), providing clarification on their expectations for organisations in relation to...more

Quinn Emanuel

UK Supreme Court allows appeals against LIBOR and EURIBOR trader manipulation convictions

Quinn Emanuel on

In a strident judgment that expresses “concerns about the effectiveness of the criminal appeal system in England and Wales in confronting legal error”, the UK Supreme Court has unanimously allowed appeals by Tom Hayes and...more

Ropes & Gray LLP

UK Authorities Revamp Joint Corporate Prosecution Guidance

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On 18 August 2025, the UK’s Crown Prosecution Service (CPS) and the Serious Fraud Office (SFO) announced the updated version of the joint guidance in relation to the prosecution of corporate entities (the “Guidance”). The...more

WilmerHale

UK Failure to Prevent Fraud Offence to Come into Force - Is Your Organisation Prepared?

WilmerHale on

The new strict liability corporate criminal offence of Failure to Prevent Fraud (FTPF) comes into effect in England and Wales on 1 September 2025. ...more

Hogan Lovells

CPS and SFO publish joint corporate prosecutions guidance – what it means for UK corporates

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The Crown Prosecution Service (CPS) and Serious Fraud Office (SFO) have overhauled their Corporate Prosecutions guidance – clarifying how prosecutors will handle charges, forum and case strategy going forward. The previous...more

Hogan Lovells

Justice recalibrated: What the Criminal Courts Review means for economic crime prosecution

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The publication of the Independent Review of the Criminal Courts in June 2025 marks a significant attempt to reshape the structure, governance and workload of England and Wales' criminal justice system. The Review has clear...more

Morrison & Foerster LLP

Top 10 International Anti-Corruption Developments for June 2025

Designed for busy in-house counsel, compliance professionals, and anti-corruption lawyers, this newsletter summarizes some of the most important international anti-corruption law and enforcement developments from the past...more

White & Case LLP

SFO expands its collaborative remit

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The Serious Fraud Office ("SFO") is in a robust, and collaborative, mood. Three months after jointly announcing the formation of a new International Anti-Corruption Prosecutorial Taskforce (the "Taskforce"), the UK's premier...more

WilmerHale

New SFO Guidance Unlikely to Drive Increase in Self-Reporting of Corporate Wrongdoing

WilmerHale on

On April 24, 2025, the UK Serious Fraud Office (SFO) released new guidance to encourage companies to self-report suspected corporate wrongdoing. The guidance emphasises that prompt self-reporting combined with full...more

Ropes & Gray LLP

New Case May Test the UK Bribery Act's 'Adequate Procedures' Defence

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On 17 April, the UK’s Serious Fraud Office (SFO) charged a UK-based insurance company, United Insurance Brokers Limited (UIB) with ‘failure to prevent bribery’ in connection with its international reinsurance activity in...more

White & Case LLP

A new sheriff in town? No time for complacency as the US pauses anti-corruption enforcement

White & Case LLP on

A new anti-bribery and corruption alliance among enforcement authorities in the UK, France and Switzerland sends a clear message to corporates that any pause in enforcement of the US FCPA does not mean that acts of bribery by...more

White & Case LLP

First unexplained wealth order may provide a welcome boost for the Serious Fraud Office

White & Case LLP on

When they were introduced in 2017, Unexplained Wealth Orders ("UWOs") were hailed as an important new law enforcement tool, which would allow more robust and effective investigation of the suspected proceeds of crime....more

Alston & Bird

The Wait Is (Almost) Over: The UK’s “Failure to Prevent Fraud” Guidance Is Here, and the Offense Itself Is Not Far Behind

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Our White Collar, Government & Internal Investigations Team discusses the UK’s new guidance on the “failure to prevent fraud” offense. The guidance addresses the “failure to prevent fraud” offense created by the Economic...more

K&L Gates LLP

How the Serious Fraud Office's Ambitious Five-Year Strategy Will Impact Businesses

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The Serious Fraud Office (SFO) recently published its new five-year strategy for 2024-2029 (the Strategy), setting out its ambitious aspirations to become a “pre-eminent specialist, innovative and collaborative agency which...more

Seyfarth Shaw LLP

UK Criminal Liability Alert: Safeguarding Companies Operating in the UK From the Actions of Their Employees

Seyfarth Shaw LLP on

New criminal laws in the UK will make companies more vulnerable to criminal prosecution for the acts of their employees and agents than ever before. The Economic Crime and Corporate Transparency Act 2023 (“ECCTA”) introduces...more

WilmerHale

UK Criminal Enforcement Update - Spring 2024

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Recent weeks have seen several notable developments in the UK criminal enforcement landscape...more

Hogan Lovells

UK SFO launches Strategy 2024-2029

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On 18 April 2024, the SFO announced that it had launched its Strategy 2024-2029, setting out its direction, values, approach and goals over the next five years. A bold, victims-centred approach The Strategy can be found...more

WilmerHale

‘One eye across the Atlantic’ - The UK SFO Director’s Maiden Speech and Recent Visits to the United States Underscore the...

WilmerHale on

The Director of the UK Serious Fraud Office (SFO), Nick Ephgrave QPM, delivered his maiden public speech on February, 13, 2024, closely followed by visits to key financial centres in the United States to meet with...more

Hogan Lovells

New SFO Director promises a bolder, more pragmatic approach to the fight against economic crime

Hogan Lovells on

On 13 February 2024, Nick Ephgrave gave his first public speech as Director of the Serious Fraud Office, to a packed room of white collar lawyers and press at the Royal United Services Institute. The new Director was bold and...more

WilmerHale

New SFO Pre-Investigation Powers Come into Force

WilmerHale on

On 15 January 2024, legislation came into force that enhances the Serious Fraud Office’s (SFO) compulsory information-gathering powers and streamlines the investigative process whilst imposing fresh obligations on companies...more

American Conference Institute (ACI)

[Event] 18th Edition Fraud, Asset Tracing & Recovery - March 14th - 15th, Geneva, Switzerland

The 18th edition of the Fraud, Asset Tracing & Recovery Geneva conference is back with new networking opportunities! Deemed as the foremost, can’t-miss event each year, the 2023 agenda will be fully revamped, and you don’t...more

WilmerHale

SFO Director Nick Ephgrave: The First 100 Days

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The new SFO Director, Nick Ephgrave QPM, marks his first 100 days in post this month after succeeding Lisa Osofsky in September 2023. Ephgrave has overseen a dynamic start to his tenure with the announcement of three new...more

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